August 19, 2017

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ALSO boosts net profits in first half

by Stuart Wilson, Thursday 27 July 2017

Gustavo Möller-Hergt, CEO at ALSO Holding
Gustavo Möller-Hergt, CEO at ALSO Holding

Distribution giant ALSO’s net profits hit €36.9m (US$43.3m) in the first half of the year – up 32.4% year-on-year. Pre-tax profits were up 27.6% at €51.4m (US$60.3m). With sales up 9.5% at €4.13 billion (US$4.84 billion), ALSO’s first half net profit margin reached 0.89%.

Gustavo Möller-Hergt, CEO at ALSO Holding, said: “Our clear strategy, determined management as well as our implementation-focused employees constitute the backbone of our sustained success. This is how we will continue to excel even in an altered competitive environment.”

In the Central Europe market segment, which encompasses Germany, France, Austria, and Switzerland, ALSO’ net sales rose 9% to €2.55 billion (US$2.99 billion). In these countries, ALSO generated a pre-tax margin of 1.3% compared to 1.5% in the previous year.

Investments in staff in Switzerland to expand the solutions business and to handle new service contracts with Swisscom, Sunrise, and MediaMarkt are temporarily leading to a slight reduction of the pre-tax margin, according to ALSO.

ALSO’s Northern and Eastern Europe market segment, which includes Belgium, Denmark, Estonia, Finland, Latvia, Lithuania, the Netherlands, Norway, Poland, Sweden, and Slovenia, improved significantly compared to the previous year. Net sales rose 13.6% to €1.794 billion (US$2.1 billion) and the pre-tax margin increased to 1% compared to just 0.4% the previous year.

In the first half of the year, ALSO’s solutions business grew by approximately 10% and the services business grew by approximately 40% compared to the same period in the previous year.

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